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Mukesh Ambani to spin off a big business change in Reliance Industries

Mumbai: Mukesh Ambani has made a big business change in Reliance Industries. It has been announced that the oil and chemical business will be made an independent entity. Company officials said Reliance would have 100 percent control over the new branch. Business diversification aims to attract more investment through strategic partnerships.

There were reports that the company would accept investments, including from Saudi Aramco. Apart from digital, retail, and branches, the company aims to have a significant presence in the oil and energy sector. The restructuring of the business is said to be aimed at the independent growth of the company. Reliance had suspended talks with Aramco last year due to the Covid-19 epidemic. But arguments are strong that the business restructuring could include Aramco.

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